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endowment queirey
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jamesey
Posts: 144 Forumite
hi , ive got a stocks and shares isa endowment and last year on out statement we had made £8390 , but on this years statement it says its made £7894 , how can this go down , it has 15years to run and it needs to make £53000 to pay our house off , ive got advise off our finnantial adviser and he said it would be daft to cash it in now and we would be better sticking to it
every year we get a warning letter that it may not repay our house price , we have had it running 10 years now and pay into it about £80 per month , what sall i do for the best im confused
every year we get a warning letter that it may not repay our house price , we have had it running 10 years now and pay into it about £80 per month , what sall i do for the best im confused
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ive got a stocks and shares isa endowment
Probably not. Thats a bit like saying I have apple grapefruit.how can this go down
Erm, one assumes you have been following the news? (even if you ignore sensationalist side).ive got advise off our finnantial adviser and he said it would be daft to cash it in now and we would be better sticking to it
Almost certainly right. You are now buying units at over 20% cheaper than a year ago.every year we get a warning letter that it may not repay our house price , we have had it running 10 years now and pay into it about £80 per month , what sall i do for the best im confused
Many decent endowments that go onto suprlus get these. So, that alone isnt enough. You need to look at the overall investments and their ongoing potential. Your IFA (assuming its an IFA and not a tied agent) should do this with you.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
it should go up soon though will it , sorry im a bit daft with stuff like this , it just seems like im paying money in for nothing at the moment0
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Investments zig zag. That is quite normal. Despite all the media scaremongering, the current stockmarket drop is not that big. Its only 28%. The tech stocks crash was 43%. A crash is defined as being over 20% from the recent high and you would expect a crash at least once in every 5 year period. So, in that respect there is nothing unusual happening here and for those paying monthly, a drop like this is a good thing as your monthly payments are buying more units than this time last year.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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nice one ill keep buying them then :beer:0
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Let it run for another 5 years and see if the markets pick up. The alternative would be to switch your mortgage from interest only to capital repayment then you know thast the mortgage will be paid off. But it depends what type of endowment you have and you don't seem to be too clear on this point. Look up exactly what endowment you have and post again, that will make any answers you get much more relevant.I am a CeMap qualified bank manager.
However, only advice that I have given outside these forums can be relied upon. Any advice I give in the forums must be verified with an external source as the forums do not give the depth of info required to give suitable personalised advise.0
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